As more consumers rely on using their mobile phone devices nowadays Americans check their phones at least 96 times per day, or once every ten minutes making Banking-As-A-Service and online mobile tax preparation a game-changer. Banking as a Service is reconfiguring the banking value chain, enabling new digital banking.
MKG Tax Consultants will enable startup businesses to open bank accounts conveniently from their mobile phone, send/ receive ACH deposits, instantly issue virtual and plastic debits cards, pay bills, manage cash flow securely online with an FDIC Insured business bank account. Most economists will agree that small businesses are the backbone of the nation’s economy.
They create more new jobs, provide goods and services that bigger businesses may see as not worth their while, and support their local communities. The importance of separating personal and business finances. An efficient way to separate your personal and business expenses is to divide them into separate, designated bank accounts.
Insured Cash Sweep Program: FDIC Insurance on Deposits up to $2,000,000
Keeping your money secure is our top priority at MKG Enterprises Corp banking technology, and we’re excited to provide added protection to our customers.
What is an insured cash sweep program?
- It’s a program offered by FDIC-insured banks. Deposits that exceed FDIC insurance coverage are swept into one or more FDIC-insured banks as a way to insure the entirety of a depositor’s balance.
- Insured cash sweep programs exist to protect depositors and their money by maximizing FDIC insurance and by limiting deposit exposure across a single bank.
MKG Enterprises Corp is a banking technology company and does not directly handle customer deposits; we use chartered partner banks to provide banking services.